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them. and i will cut taxes for middle- class families. i believe it's important to
steve, what do you think of this romney tax plan? >> it increases take-home pay, middle class family, $2,000 extra in their take-home pay, and more importantly it reduces the price of doing work, being productive and taking risks. lowering that price, lowering tax rates. that's the way to get the economy going. worked for kennedy, for reagan, worked in the early part of the last decade. it will work again. >> we have to do something. since the recovery began, by the way, june 2009, household incomes are down 5.7%. that's since the recovery. when you're in a recovery, incomes are supposed to go up. >> yeah. what's disstressing and concerning is, at this point i don't know what governor romney has in mind. he's been saying all along he'll reduce taxes and shows up in ohio -- >> reducing tax rates. >> he shows up and says don't expect a huge tax cut, because what he's doing is lowering deductions and exemptions. great. i wonder if somebody will get around to telling me what those deductions and exemptions are that he's going to lower. he's been running for president for seemingly
that is something that mitt romney was trying to clarify on this idea much spreading the wealth, end tax cuts. from ryan earlier. >> i was a little bit confused yesterday, congressman, when mitt romney was talking about the tax cuts he was invisioning, they would not be as big as you think, when you factor out you know, how we would phase out exemptions and allowances and deductions it may not be the big tax cut a lot of people were looking forward to. is he trying to brace us for some bette bitter news. >> no, lower tax rate, triggers economic growth, when people ask about, whose tax loopholes are you go after? we say by closing tax shelters for higher income earners, that allows us to lower tax rates for everyone. middle income tax payers get higher take home pay, businesses get lower tax rates that helps theme compete globally, and create job, by denying tax shelters to hire income earning that means we can lower tax rates on everyone without losing revenue, we get more revenue because we continue will glow the economy, these kinds of pro growth tax reforms, ronald reagan and tip o'neill did it,
] >> a new report by the tax policy center says middle class family pays $2,000 more in taxes next year if the fiscal cliff happens in january when the payroll tax holiday ends. economists discussed the issue today at the urban institute. this is an hour and a half. [inaudible conversations] i think we are ready to get started, everybody. [inaudible conversations] good afternoon. welcome to the urban institute's first tuesday. i'm editor of the tax blog, tax blocks, and we're here to discuss taxes and the fiscal cliff. washington lives in sue perlatives. everything that happens here is the biggest, the worst, or the most important. how many times, for instance, have you been told that some politician is about to give the speech of his life until he gives the next speech? the taxmeggedon has the potential to be a watershed in fiscal policy. it's true. it could be another way to kick the can down the road, but it could be a tipping point to end a decade of fiscal gridlock. yesterday, the tax policy center released a new study on the cliff, and we'll talk in details, but to summarize, it f
the politicalization of wall street right now, the ceos don't want to invest because they don't know about the tax cuts. but we have trillions of dollars that is ready to get into money flow. we need the money to get higher velocity and they're not doing it because they can't get a return on their investment. >> what's romney going to stay in the debate tomorrow to really articulate -- >> he's not going to be able to say those trillions can -- >> here's what romney said, to the extent that there's been any recovery at all, to the extent that there's been any economy growth at all, it's been -- whatever we have had has been completely funded -- remember what obama said, i'm going to build a new foundation. it's built on easy money and borrowing. >> the only argument, the only argument that romney and the republicans have is look how terrible things are, they're the america lose crowd. >> that's their only argument. >> so guess what, bright signs in the market you indicated today. bright signs in manufacturing. it couldn't possibly be because of good public policy. >> you realize this year's worse than l
. not because there hasn't been tax rises think i suspect dean every family in this country. not because they didn't want to cut borrowing. they did. abacus or services are getting worse. they are. but because if you stop an economy growing, it will be of more out of work claiming benefits, not paying taxes. businesses struggles that they are not paying taxes. and as a result, borrowing goes out. our income not to invest in schools and transport and education, but are we to keep people idle so the next time you hear a conservative say to you, labor would increase borrowing. just remember it is this government that is increasing borrowing this year. [applause] so what have we seen? we have seen recessions, higher unemployment, higher borrowing. i don't think that is what people were promised. there will be some people who say, and this is an important argument. it will be some people who say they were short-term pain, but it is worth it for the long term gain. and i'm afraid the opposite is true. the longer you have low growth in the country, the baker to debt comes to the future and the
for our debate warm-up. is from the getting more specific about the tax plan? we think so. we have the details. welcome to "the willis report." hello, everybody. i'm gerri willis. tonight is the night. obama versus romney. this same stage. the expectations are sky-high. it seems like all obama had to do is show up. with more on this neil cavuto from denver. can romney meet these expectations? >> they are high expectations. the pressure is on him because of these polls. i often think that a lot is put on the challenger. sometimes he can benefit by showing up and sharing the stage with the president of the united states. already on equal footing with him in that respect. he does have the advantage of a dicey economy going forward. the president's supporters say it is not as it had been, and there is some economic news today that portends may be the worst is behind it. but i agree with that. if you want to be in game changer this is the night. and no one doubts the earlier point. he has the smarts. does he have the passion to deliver? the fact that he tipped his hand a little bit on h
, he wants to-- one, he wants to cut tax breaks or companies that outsource. when companies outsource the net effect is to create more jobs that were here. people were able to buy goods cheaper because companies are able to make the goods cheaper and buy goods cheaper and spend more money in other sectors, two the other they think he wants to do, he wanted to invest in education and training programs. that's all well and good, brenda and we know that's going to cost millions and millions of dollars, but that's not how the economy works. >> gary b, it's spending more, what does that do to the debt? >> well, brenda, he tries to get up, up, up. when i went to work for ibm 30-odd years ago, the government didn't teach me how computers work. bem caught me. rockefeller's oil company taught people how to drill for oil and gas and the third thing that strikes me that's not going to work. he wants to double manufacturing jobs, increase manufacturing jobs, that's fine, but why does the manufacturing get the benefit of government largest, why not the financial sector, oil and gas, all of this st
that is one of the things, simplifying the tax code so that you can dedicate your brainpower to doing productive things. the thing about spending is the money doesn't come from us, it comes from you. that is not stimulus. it is more lightweight. >> host: just to go back to your original point, would you like to see no floating currency? >> i would like to see the dollar and how much in washington created it, and we have it for 180 years. that is the goal. what that does. sixty minutes an hour, 16 ounces in a pound. it doesn't restrict money supply, it blossoms. we have a stagnant economy. what it means is that if you make a contract two years from now for a fixed amount, the value will be the same as it is today. when you make an investment, when you value that investment, it is the future stream of income. well come you don't know what the dollar will be worth. $120, less investment, the economy is stagnating. just as it was in the 1970s. again, government creates the environment. stable money. don't go on the spending ventures and run the economy. >> host: steve forbes, you have bee
tax cuts. you can't compare in the state of ohio where a new york times cbs poll shows mitt romney down by ten percentage points, president obama ahead on the economy, 6 in 10 voters, nearly 6 in 10, that is, said mitt romney's policies would favor the rich and mitt romney doesn't care about people like them. president obama's driving that message, going after mitt romney's predictions that he'll be tough on china saying that if you look at romney's record at bain capital, all that talk is fake. >> when you hear this newfound outrage, when you see these ads, these running problems seem to get tough on china, it seems a lot like that fox saying we need more secure chicken coops. i mean, it's just not credible. >> and larry, you can hear the confidence in president obama's voice because not only in ohio is he ahead, but in all of the major swing states president obama's got a lead right now. mitt romney's got to find a way to turn that around, turn it around in the debates, and maybe the tax cut issue that you're talking about will be one tool in that arsenal. back to you, larry. >>
into a such a deep hole and everyone wants to avoid tax, tax, tax, we can't. yes, they've got it cut it, and going to have to do financials, we don't want to do it, we've got to. >> neil: i'd like to disagree with that, but (laughter) >> mr. gasperino? >> and we don't have to raise taxes right now. it'd be a dumb thing to raise taxes, in the middle it looks like we're headed to a double dip recession. >> neil: you think that. >> you look at the numbers and the business round table and look at the latest gdp numbers and consumer spending and i don't criticize ben bernanke for doing what he did with qe three, primarily the numbers look bad-- >> of aalways been in the-- >> and i tell you, never criticized, one you've never criticized. >> neil, neil, this is the only thing left. if you don't have-- >> come on, i think you doth protest too much. dagen. >> i think what ryan says does ring true. because obama care and the bowles simpson panel completely off the table. medicare don't touch it. medicaid, do ent touch it. in fact, paul ryan did work with alice rivlin on something like proposed for medicare
. it is crazy. >> the larger problem here is we need to make very substantial changes in the tax and budget regime we have. very serious changes that will hurt. so nobody wants to do it. the worst thing that happened is we do not do any of them until we have a crisis, a really horrible crisis, and defaulted on the debt would be pretty bad if it were allowed to happen for more than a day or two. a horrible crisis can happen in other ways. for example, and this is something we really have to pay more attention to, the previous 10 leaders of the council of economic advisers -- maybe it was more -- from both parties, last year, jointly signed an open letter to congress and the administration saying, if we do not get this situation under control, one day, and no one knows when it will be, but for sure, one day, the bond market, all the people and institutions in the world to lend that money to the united states, will demand a higher interest rate. it will go up and up and up. when it does, what they said was we will have a financial crisis that will make the 2008 financial crisis look small. tha
and your taxes. >> unlike president obama, i will not raise tax on the middle class of america. >> i want to reform the tax code so it's simple, fair. >> the candidates' opinions couldn't be more different and the stakes couldn't be higher. >> their philosophy is if you don't are health insurance, don't get sick. >> now is the moment we can do something. and with your help, we will do something. >> cnbc's coverage of the first presidential debate of the 2012 presidential election begins now. >> tonight some of the most influential figures in the nation on the economy join us here on cnbc. >> we've got representative and hopeful ron paul with us. texas, from texas. he is of course outspoken about the federal reserve policies. robert reich is here with us tonight. also with us grover norquist. the man behind the no new taxes pledge so many republicans made. and bob lutz a former top auto executive. the auto bailout expected to be a big topic tonight. and we've got president of the aflcio. unions of course a major constituency. and roger altman. as you can see the lineup card is full. going
can take issue with. he going to devalue the dollar little further? give tax breaks to companies he is taking credit, he wants to spend more taxpayer money on infrastructure, math and science, ashley, where people who buy it. ashley: what's interesting is that he has managed to frame this, if you like by blaming the rich people who are just not paying their fair share. be gaining some traction. >> we have written a lot about this. it is a claim that he repeated in this advertisement. he said let's reduce the deficit by $4 trillion and raise the taxes on the wealthy. that means nothing in an economy where we would be running more than $1 trillion the annual deficit. mitt romney needs to come out and just do the arithmetic for people. the average american understands state of this economy. the banks on wall street monday doing good,. ashley: case in point. ohio, which is a very important swing state, if you look at their personal income since december 2007, it has risen a whopping 2.1%. in nearly five years. mr. obama has a lead not. >> yes, the pools are an open question. i don't buy
a president passing a tax rate on small businesses above 40%. that one tax only pays for 8% of his proposed deficit spending. so this idea, look, overseas, which where i come from means lake superior. we both live near canada, right? the canadians have this figured out. the canadians lowered their taxes to 15%. president obama wants to tax our successful small businesses to go above 40%? when we tax our job creators at much higher tax rates than our foreign competitors tax theirs, they win, we lose. we have to get right with the idea that our jobs come from successful small businesses. we don't want to tax them more, we don't want to regulate them more, we want them to hire more. that is essential. [applause] and none of this is going to work. no business is going to be confident to take that risk to hire people, to advance people, to give people promotions and raises and job security if they see their government borrowing and spending like it is. we can't keep borrowing 36 cents of every dollar our government spends. we can't keep the federal reserve doing what it's doing. we cannot keep l
on the trail. it is the gift that keeps on giving. >> how they can justify. raising taxes in the middle class. it has been buried in the last four years. how in the lord's name. >> that is nodt a froidian slip. plus three stories that happen to break before the election. a leftist new york attorneyy general looking to bash banks and that is as phony as a $3 bill. also a judge strikes down pennsylvania's voter id law and the obama administration is telling companies it is okay to disregard the law when it comes to handing out pink slips in advance to big budget cuts. all three happening before the election. mitt romney has finally put meat on the bones of his tax reform idea. he floated the idea of a $17,000 cap on tax reform reduction. >> you could say everyone is going to get up to a $17,000 deduction. you can fill that bucket if you will and higher income people might have a lower number. >> this is brand new stuff. we have howard dean former vermont governor and candidate. and let's look at this for a second. what do you think? a $17,000 cap on tax deductions for everybody as a way of bein
program without paying one penny for it. they added another trillion dollars in tax cuts for the wealthy. what was the result. ? these are the facts. the result was by the time the rain that turned back over to barack obama and me, they had doubled the national debt in 8 years. the fourth, fifth, or six days we were in office, we were sitting in the oval office at sunset, mr. president, looking at his year's budget you are going to have a trillion dollars deficit. he said, i have not done anything yet. [laughter] he said, no mr. president, the budget they passed guarantees no matter what you do, you will have a trillion dollar debt this year in the budget. a trillion dollar deficit, to be precise. these guys talk about the national debt. what date did generated the -- what they did generate -- generated the jobs since world war ii. it gave us this great recession. what they have not told us is what they are willing to do about it. we laid out a $4 trillion debt reduction plan over next 10 years. we have already passed $1 trillion of it. these guys voted against everything. not only did t
. and he was caught in a lie today about his secret tax returns. >>> and in voter suppression news, a big win for voters in a pennsylvania courtroom today. and in the rewrite, the only way mitt romney can win the debate, it was all laid out for him by the best republican presidential debater ever, who was of course a fictional character in the t.v. series olaf's pizza palace gets the most rewards of any small business credit card! pizza!!!!! [ garth ] olaf's small business earns 2% cash back on every purchase, every day! helium delivery. put it on my spark card! [ pop! ] [ garth ] why settle for less? great businesses deserve the most rewards! awesome!!! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? we might still be making mix tapes. find this. pause this. play this. eject this. write this. it's like the days before esurance express laneā„¢. you had to find a bunch of documents just to get a car insurance quote. now express lane finds your driving info with just
us -- the double-digit inflation, the high tax rates that i think were hurting the economy, the stagflation that we were undergoing. before even the election day, something that none of those economists had even predicted had happened, that the economy was so worsened that i was openly saying that what we had thought on the basis of our plan could have brought a balanced budget -- no, that was no longer possible. so, the plan that we have had and that we are following is a plan that is based on growth in the economy, recovery without inflation, and reducing the share that the government is taking from the gross national product, which has become a drag on the economy. already, we have a recovery that has been going on for about 21 months to the point that we can now call it an expansion. under that, this year, we have seen a $21 billion reduction in the deficit from last year, based mainly on the increased revenues the government is getting without raising tax rates. our tax cut, we think, was very instrumental in bringing about this economic recovery. we have reduced infla
, everybody. as howard mentioned, a big report about the tax components of the fiscal cliff and what the effects could be on american households. i want to make five basic points that we raised in that study. the fiscal cliff really is big. it would be more than $500 billion in a tax increase. this works out to a tax increase of more than 20%, which is very large. looking at whether this would be the largest tax increase in history. for the average household, that works out to about $3,500. someone who earns around $50,000, it would be somewhere in the neighborhood of $2,000. the second point is it affects virtually everybody. close to 90% of households would see their taxes go up. there are a few folks out there, primarily older seniors and citizens who do not have children who might not be affected, but the vast majority of american households would be affected by going off of the cliff. the first order for business is running through what the effects will be. those of you in the room have a handout that summarizes things. those of you at work and at home should be able to find thi
calling for higher taxes on the rich and new spending plans and it comes as we find out the economy's slowing, and someone here says the economic patriotism will only cause this number to keep growing. and take the economy down for good. are they right? hi, everyone, i'm brenda buttner, this is bulls and bears, here are the bulls and bears, gary b smith, tobin smith. jonas max ferris. and welcome everybody. gary b, is economic patriotism exactly what the economy needs? >> well, not this version of economic patriotism. you know, i think this plan is going to do a lot more harm than good, brenda, especially to the country's bottom line. look, i went through the plan, obama's plan. i went through his tv commercial, three things jumped out that just didn't make any sense, one, he wants to-- one, he wants to cut tax breaks or companies that outsource. when companies outsource the net effect is to create more jobs that were here. people were able to buy goods cheaper because companies are able to make the goods cheaper and buy goods cheaper and spend more money in other sectors, two the o
applying hotel tax to your rentals. tell us about what happened. >> last wednesday, the tax collector called a hearing to discuss the applicability of the transient occupancy tax to short-term rentals and operators. we were concerned about this tax and its applicability to airbnb and our community. they showed up in great numbers at the hearing. our main concern is that we vote regularly to increase our own taxes. i do not think any of us are completely opposed to taxes. our concern is the tax code was written in 1961, long before the sharing economy existed, the internet, and the new thing we call airbnb. something that was written for corporate hotels and guests should not be applied to something that is entirely new, to permanent residents of san francisco who are occasionally renting out a couch or bedroom to a visitor, with whom the form great lasting friendships quite often. we announced that the entire city family take time to think about whether the existing laws should apply to the new activity or whether we should create new policies and regulations that apply more appropria
institute for a discussion on the scheduled tax increases the percent to hit in january, including the end of the bush era taxes, payroll tax holiday hikes and invested in come also. a new tax policies and to report says nothing is done. average marginal tax rates would go up by five percentage points on labor income, seven points on capital gains and more than 20 points on dividends. along with more than a trillion dollars in budget cuts. also starting january or known as the fiscal cliff. it should get under way in just a moment. [inaudible conversations] >> good afternoon, and welcome to the urban institute's first tuesday. my name is howard gleckman of the tax center blocks and we are here to discuss taxes in the fiscal cliff. as you all know, washington lives everything that happens here is the biggest or the worst were the most important. how many times for instance have you been told some politician is about to give the speech of his life until he gives the next speech. the tax armageddon has the potential to actually be a watershed in the fiscal policy. true it could be another opp
of ten year time frame we would manage the cut and spending and tax increases and in investments, we need do all three. we need to tax, cut, and invest in the source of our strength. i think that would have a huge effect. i think americans today feel in many ways like children of two divorced parents. i think it's a pal in the country in a lot of ways. it would be huge. if we got a grand bargain on energy how to exploit the boundary of -- i think the two together would have a huge impact. so the question is how close are we to that? and, you know, i have a saying about the middle east which applies to the american politics. all important politics happens the morning after the morning after. >> when is that? >> here i'm talking about the election. here i think the question really is i don't know how the election is going come out. i make no prediction. i ask myself if romney gets smashed, if he gets smashed, it would -- i happen to think the political problem in the country we have a center left party and we have a far right party. that is a structure problem. the republican party has gone
and republicans can agree. we need to simplify the tax code, we need to reform the regulatory state, these are things that will help business across-the-board. neil: it comes at a time when ceos are hedging their bets right now. economists might be in that area to prove to me that things will get better kind of group. what are those in the know, who follow earnings, who follow trends, what are they telling you? what is it that all of you are saying that maybe a lot of folks are missing or even appreciating? >> we have to recognize higher taxes and more spending by a government is not going to work going forward. candidate obama right now for the next four years, about lowering the deficit. every now and then, there has been no wish to do it, no move to do it come until somebody gets undone,. neil: here's another question talking about economist. what if it's worse than they think it is. what we are headed into another recession. as gary pointed out, they are very at the least warning of a slowdown. not exactly robust demand here. but what if it is bigger than those who have been not
, downloading a dividend? what will apple do with its huge war chest and potentially devastating tax hikes? we'll drill to the core straight ahead. >>> and you heard it here first. >> look what mark did when he was at hp. people forget how much trouble hp was in when he took over. hp without mark herd, hp with mark herd, hp without mark herd. >> oracle's larry ellison said it here exclusively yesterday. today, hp gets hammered. another reason why "closing bell" is must-see tv. >>> and the man with the plan. mitt romney briefly unveils his version of tax reform ahead of tonight's presidential debate. but will it work to close the gap in the polls? we'll break it all down right here on the "closing bell." when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. >>> welcome bac
our record and our pro-growth tax reform cuts taxes 20% and higher take-home pay for middle class and pro-growth economic policies, that creates about 7 million jobs. so, the final analysis, people will realize, all the president is offering is more of the same with another round of stimulus and higher tax rates on job creators. we are offering very specific reforms, how do you save and shrink the medicare and social security and prevent the debt crisis and grow jobs, how do you have an interview policy that unleashes american internally and has energy independence? >> chris: here's my question, though, the fact the message has not gotten through as effectively as it could, so far, is that your fault? the romney campaign's fault or the voters fault. >> look, i think the president has done an effective job at trying to confuse the issue and disrupt positions an distract people, but, at the end of the day i don't think that will work. >> chris: any responsibility... >> look, we are going to prosecute the campaign, in the way that we have always planned, we'll give the country a very
you're in the position to buy your business, you needed a tax cut then. i want to make sure the plumber, said the nurse, the firefighter, it the teacher, the young entrepreneur who does not have money, i want to give them a tax break now. not only did 98% of small businesses like less than to under $50,000. i also want to give them additional tax breaks because they are the drivers of the economy. >> we need to spread the wealth around. in other words, we're going to take joseph money, give it to signature obama and let him spread the wealth around. the whole premise behind the plans are class warfare, but spread the wealth around. i want small businesses that would receive an increase in their taxes. why would you want to increase anybody's taxes right now? these people are going to create jobs unless you take that money for him and spread the wealth around. i am not going to do that. >> number one, i want to cut taxes for 90 5% of americans. it is sure my friend and supporter warren buffett could afford to pay a low tax. in order to give taxes. then exxon mobil which made
. the basically believe if we spend another $5 trillion on tax >> don't boo, vote. >> >> he has one thing he did not do in his first four years, which is to raise taxes. is there anybody who thinks raising taxes will help the economy? his plan is to continue what he has done before. the status quo has not worked. we cannot afford them a more years of brought the bomb. >> wednesday, president obama and mitt romney meet in their first presidential debate. watch and engage with c-span. post debate, your reaction, calls, e-mails, and tweets. >> not a debate between former wisconsin governor tommy thompson and u.s. rep tammy baldwin. this debate is hosted by the wisconsin broadcasters association. the cook political report raised his race a tossup. this is one hour. >> good evening. radio and television broadcasters are pleased to continue our public affairs broadcasts tradition began in 1990 sponsoring debates in major political campaigns. the debate will be broadcast over 80 wisconsin television stations. this evening's debate will engage the two leading candidates in their first face- to-face deba
payroll tax to gross receipt tax and why? because by doing that we can create jobs in san francisco and keep people in san francisco . the kids are growing up and we want them to stay but we need jobs. i agree with mr. crowley with the police force and make sure that is fully staffed and i have been speaking to the police athletic league and they have a program to breen the teenagers to be interns in the police force and they would feed into the police cadet program. thank you. >> thank you sir. the next question the city's liabilities are projected to increase in the next coming year. s what new or increased fees should it institute and i will repeat the question and we will begin with mr. crowley. >> i would say that one of the bigger things that we will have before us is the gross receipts tax check that norman talked about trading from the payroll tax which is punitive. the next thing i would do is increase the foot print on mos sony center and that brings in a lot of money to the general fund and erect a multi-purpose area and bring in more money to the coffers and a green i
to take away, that i haven't mentioned is this is a 100% private financed. no tax increases. no money from the general fund. [ applause ] benefits will be many. jobs obviously through the construction process, but also hundreds of permanent, well-paying new jobs. san francisco will finally have a world-class multi-purpose venue for music, artists who cannot today play in san francisco, for business and cultural event to fill a void in joe's portfolio of convention and other business coming to the city. family shows and for us, most importantly a new home back in san francisco, where the warriors started. certainly will contribute to economic growth, new tax revenue, and create a publicly accessible waterfront attraction that does not exist today. we passed a big milestone in naming our architectural team and we choose two firms that are going to be responsible for the design of this project. san francisco's acom, bill crocket is with us today. they are the most experienced arena architectural firm in the core and have been .yn 30 projects over the decade and bill personally involved with t
could be accurate or not. what is the person saying there should not be a millionaire tax or should be. who is the special interest dominating that message point coming out and how does the voter get through it? i think one the most amazing thicks happening in the country when you look at the president number heys doing well. what's fascinated about the amount of money being spent by the cross roads and the entity for some reason the message is not coming through it's not compel fpg you look at the swing states that we were going to be remarkably close are going to trend toward tbhawm a way that somebody thinks to seem unless the debate set the presidential election. it's clear the spt heading toward a environment he has a advantage. romney is going to be exceptional. >> tune in. >> fiewn in and watch. let watch. >> i'm excited. >> talk about in next week in class. >> would you taunt the cross road different and you engage in more localized races congressional and senate how you choose your priorities since so you have a broader scope. >> yeah. that's a good question. we're focused on
, everyone. wealthy people may pay more in a romney administration. one. governor's campaign advisors say tax rates on the rich might come down, might not come down so much. and deductions for the rich will be cut. so, now his tax plan is being called ambiguous. that's the attack. no ambiguity about today's numbers, revision down on the growth rate down to stall speed and a huge drop in orders for cars, trucks and machinery. we're headed to election in 40 had days, are we head today recession? a clean cut call for you, the refs will be back tonight. the nfl caved. watch out, an all-star lineup for you. "varney & company" is about to begin. [ male announcer ] what if you had thermal night-vision goggles, like in a special opsission? you'd spot movement, gather intelligence with minimal collateral damage. but rather than neutralizing enemies in their sleep, you'd be targeting stocks to trade. well, that's what trade architect's heat maps do. they make you a trading assassin. trade architect. td ameritrade's empowering web-based trading platform. trade commission-free for 60 days, and we'll thro
romney's taxes shows, not all income is taxed the same. why how much you pay in taxes depends on how you make your money. four years ago this month, the economy was in a freefall. lehman brothers had collapsed and credit markets seized up. a.i.g. was rescued by the federal reserve. the tarp program spent billions bailing out banks, and the federal deposit insurance corporation helped save citigroup. sheila bair was among those making the decisions. she was the chairman of the fdic and has written about the financial crisis in a new book, "bull by the horns. " she join us tonight from the nasdaq. sheila, congratulations on the book. quite a read to relive those days and months four years ago. after all the billions of dollars spent and the millions of homes foreclosed on, you wrote, i wonder if we overreacted. you say the generosity of the response troubles you, why? >> the generosity of the banks. we clearly needed to do something. weeshtd have done more to get the homeowners restructured and clean up the banks balance sheet, by making them clean up the losss and clean up the balance she
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